All Forum Posts by: Delano Oakley

Welcome to BP great to have you with us sometimes earned income can be a quite a disappointment. After investing tremendous amounts of time and energy to making someone else's company profitable, With truly no security, no significant return, or opportunity for residual income. I have experienced this first hand. I believe true security lies in the hands of the individual and their ability to create concepts that create profit, leverage and opportunity for residual income. Real estate is a wonderful vehicle for this.

Okay BP I need your help I am currently approved for an FHA loan with the 3.5% down. So I found this property that is in he same neighborhood where I live. Property is a great investment and has about 10k in equity from the asking price and Is in move in ready condition. So the problem is that there are tenants it the property that just signed a 1 year a month ago. Under fha guidelines I have to owner occupy the property for at least a year and 60 days my question is with the tenants approval can I move them into my current home a few streets down avoid a costly eviction write up a new lease and null there current lease so I can occupy the property to satisfy fha I would still cash flow with this strategy?

welcome to BP Austin I live in Seminole heights. Awesome area, very up-an coming. we share similar visions, I'm currently in the process of purchasing my second property in Seminole heights if you have any questions let me know I'm very familiar with this area..

Welcome to BP Robert, curious to know what's gonna be your strategy for purchasing? I'm in the Tampa market as well, in the process of purchasing my first investment property with an FHA loan with 3.5% down. Gonna rent out my current home and living in the investment property for the first year then do it again.. are you gonna do conventional, FHA and owner occupy, or investment loan with 25% down?

I did my own research on most of the numbers got tax info from the property appraiser website, found out HOA and some insurance info from the realtor, the mortgage broker ran the property at full ask price and got closing costs and the interest rate range I would fall in. it will be under an fha loan with 3.5% down. the homes in move in ready condition so alot of the cap ex things have been recently replaced. I plugged all the numbers in on the rental Calc on BP and got the evaluation.

Hey everyone my name is Delano. I'm an newbie investor in the Tampa Bay area. I've been searching for my first investment property for about a year now, put offers on several property's so far but got into many multiple offer situations and got out bided every time. I have a realtor who I've been working with, along with a mortgage broker, currently I do have a off market property that am looking at. A town home ...yea I know...asking is 67k 2bed 2bath 819sf in a b class area rent ranges from 950 to 1050 expenses 715 including HOA, cap rate at 10.59% ROI at 49.68% lemme know what you guys think I'll try to upload the full report.